Passive action had sales
Passive Action had sales of $360,000 during the current period and a gross profit rate of 40%. The company's cost of goods available for sale during during the period was $324,000?
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Passive Action had sales of $360,000 during the current period and a gross profit rate of 40%. The company's cost of goods available for sale during the period was $324,000?
Hamblin Co. elects to use the percentage-of-sales basis in 2014 to record bad debts expense. It estimates that 2% of net credit sales will become uncollectible. Sales revenues are $871,300 for 2014.
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